EQS-Adhoc

InCity Immobilien AG: INCITY SIGNIFICANTLY REDUCES EARNINGS FORECAST FOR 2023 DUE TO AN EXTRAORDINARY DEPRECIATION OF THE PORTFOLIO PROPERTY AT “STIFTSTRASSE 18/20” IN FRANKFURT (MAIN) - Seite 2

Based on the existing profit transfer agreement between InCity AG and the subsidiary (IC Objekt8 Frankfurt GmbH) holding the portfolio property at “Stiftstrasse 18/20”, the non-liquidity-related extraordinary depreciation at the subsidiary level leads to loss absorption by InCity AG. This in turn results in a new earnings forecast for InCity AG (single entity) for 2023 between EUR -2.3 m and EUR -2.8 m (previous forecast: between EUR -0.4 m and EUR -0.9 m).

With the planned sale of the portfolio property at “Stiftstrasse 18/20” in Frankfurt am Main by means of a share deal, InCity AG is divesting its last property in Frankfurt am Main. The remaining six portfolio properties are in good or very good (central) locations in Berlin and are expected to have long-term value stability due to their location and property quality. 

Reporting and contact person:
Helge H. Hehl, CFA
CFO
InCity Immobilien AG
Zeppelinstrasse 1
12529 Schönefeld, Germany
Phone: [phone]
E-mail: [e-mail]

End of Inside Information

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15-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	InCity Immobilien AG
	Zeppelinstraße 1
	12529 Schönefeld
	Germany
Phone:	IR: [phone] PR: [phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.incity.ag
ISIN:	DE000A0HNF96
WKN:	A0HNF9
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Stuttgart, Tradegate Exchange
EQS News ID:	1798083